Gas Filters Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 14.87 Billion |
| Market Size (2029) | USD 19.59 Billion |
| CAGR (2024 - 2029) | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Gas Filters Market Analysis
The Gas Filters Market size is estimated at USD 14.87 billion in 2024, and is expected to reach USD 19.59 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).
- Over the medium term, the demand for gas filters is expected to increase due to rising industrialization and increasing utilization of natural gas for various purposes like heating, electricity generation, and others. These factors are expected to boost the gas filter market during the forecast period.
- On the other hand, the installation of gas filters adds to the additional cost of infrastructure. This situation is likely to restrain the market during the forecast period.
- Nevertheless, several governments have imposed stringent norms and compliances related to gas emissions into the atmosphere. In order to comply with these standards, industries must install gas filters, thereby creating lucrative opportunities for the market.
- The Asia-Pacific region is expected to dominate the market growth, owing to the rising industrialization and utilization of various gases, such as natural gas, compressed gas, and industrial gas, across various sectors.
Gas Filters Market Trends
Natural Gas Filter Segment to Witness Growth
- Natural gas consumption increased significantly, reaching 4089 billion cubic meters (bcm) in 2022, owing to the increasing demand for natural gas in multiple industries, including power generation and transportation. This trend is expected to continue in the coming years, and it is likely to drive the gas pipeline infrastructure significantly.
- By 2030, due to environmental benefits and the quest for energy security in regions such as the Middle East, Africa, and Asia-Pacific, the demand for natural gas is expected to witness significant growth compared to other fuel types.
- LNG trade is expected to witness a global increase as the consumption of such gases is increasing significantly. In 2022, the average volume of LNG trade was around 51.7 billion cubic feet per day (Bcf/d), according to the data published by CEDIGAZ.
- Natural gas contains contaminants that must be filtered before its utilization and emission into the environment. Natural gas contains numerous solid and liquid contaminants, which must be efficiently removed through filtration before the gas can be used commercially.
- The development of new sources of natural gas, such as shale gas deposits, and the resulting price pressure are boosting the international trade of natural gas. This situation is further boosting the demand for gas filters.
Asia-Pacific to Dominate the Market
- The Asia-Pacific region is likely to witness significant growth during the forecast period, owing to increasing industrialization. The utilization of gases, such as acetylene, argon, oxygen, hydrogen, methane, carbon dioxide, and helium, is expected to rise.
- Governments of various countries across the region have imposed stringent policies pertaining to several industrial practices involving the installation of gas filters. Many governments are making efforts to encourage the adoption of gas filters in the region.
- The expansion and development of several industries are also boosting the market in the Asia-Pacific region. In March 2023, Huajin Aramco and a joint venture between NORINCO Group, Aramco, and Panjin Xincheng Industrial Group announced the commencement of the construction of a major integrated petrochemical complex and refinery in China. This refinery and petrochemical plant complex will have a combined capacity of 300,000 barrels per day, along with an annual production capacity of 2 million metric tons of paraxylene and 1.65 million metric tons of ethylene. The complex is expected to be fully operational by 2026.
- The utilization of gas engines and gas turbines is also increasing in the region amid rising efforts to reduce the use of oil and coal. The utilization of gas is also increasing in the automotive sector, thereby leading to growth in the automotive and spare parts markets.
- The above-mentioned factors are likely to boost the gas filter market in the Asia-Pacific region during the forecast period.
Gas Filters Industry Overview
The gas filter market is semi fragmented. Some of the major players in the market (in no particular order) include Parker Hannifin Corporation, Donaldson Company Inc., Mott Corporation, EFC Filtration BV, and Entegris Inc.
Gas Filters Market Leaders
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Parker Hannifin Corporation
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Donaldson Company, Inc.
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Mott Corporation
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EFC Filtration B.V.,
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Entegris, Inc.
*Disclaimer: Major Players sorted in no particular order
Gas Filters Market News
- September 2023, Rensa Filtration, a manufacturer of consumable, mission-critical air filtration products, announced that it recently concluded two strategic acquisitions of APC Filtration, in Ontario, Canada, and R.P. Fedder in Rochester, New York. Rensa’s Custom Filter’s capabilities range from HEPA to the highest ULPA grades, molecular/gas phase filtration for medical and high technology applications.
- July 2022, Parker Hannifin signed an agreement to supply gas turbine filtration systems for utilization aboard a floating production storage and offloading (FPSO) vessel planned offshore Brazil.
Gas Filters Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD, till 2028
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
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4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.1.1 Rising Industrialization across the Globe
- 4.5.1.2 Increasing Utilization of Natural Gas
- 4.5.2 Restraints
- 4.5.2.1 High Cost of Installation and Maintenance
- 4.6 Supply Chain Analysis
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4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitute Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Natural Gas Filter
- 5.1.2 Industrial Gas Filter
- 5.1.3 Compressed Gas Filter
- 5.1.4 High Purity Gas Filter
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5.2 Application
- 5.2.1 Petroleum Industry
- 5.2.2 Chemical Industry
- 5.2.3 Food and Beverage
- 5.2.4 Pharmaceutical
- 5.2.5 Electronics
- 5.2.6 Others
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 France
- 5.3.2.3 United Kingdom
- 5.3.2.4 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 United Arab Emirates
- 5.3.5.3 South Africa
- 5.3.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
- 6.3.1 Parker Hannifin Corporation
- 6.3.2 Donaldson Company, Inc.
- 6.3.3 Mott Corporation
- 6.3.4 EFC Filtration B.V.
- 6.3.5 WITT-GASETECHNIK GmbH & Co KG
- 6.3.6 Entegris, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Stringent Government Norms across End-Use Industries
Gas Filters Industry Segmentation
Gas filters enable the filtering of impurities in gases, such as oxygen, hydrogen, carbon dioxide, helium, compressed gas, natural gas, and others. The filters protect downstream equipment and systems, and they are also called gas cleaners.
The gas filters market is segmented by type, application, and geography. By type, the market is segmented into natural gas filters, industrial gas filters, and compressed gas filters. By application, the market is segmented by the petroleum industry, chemical industry, food and beverage, pharmaceutical, electronics, and other applications. The report also covers the estimated market sizes across major regions. The market sizing and forecasts for each segment are based on the revenue generated (in USD).
| Product Type | Natural Gas Filter | |
| Industrial Gas Filter | ||
| Compressed Gas Filter | ||
| High Purity Gas Filter | ||
| Application | Petroleum Industry | |
| Chemical Industry | ||
| Food and Beverage | ||
| Pharmaceutical | ||
| Electronics | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| France | ||
| United Kingdom | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| United Arab Emirates | ||
| South Africa | ||
| Rest of Middle-East and Africa |
Gas Filters Market Research Faqs
How big is the Gas Filters Market?
The Gas Filters Market size is expected to reach USD 14.87 billion in 2024 and grow at a CAGR of 4.5% to reach USD 19.59 billion by 2029.
What is the current Gas Filters Market size?
In 2024, the Gas Filters Market size is expected to reach USD 14.87 billion.
Who are the key players in Gas Filters Market?
Parker Hannifin Corporation, Donaldson Company, Inc., Mott Corporation, EFC Filtration B.V., and Entegris, Inc. are the major companies operating in the Gas Filters Market.
Which is the fastest growing region in Gas Filters Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Gas Filters Market?
In 2024, the Asia Pacific accounts for the largest market share in Gas Filters Market.
Gas Filters Industry Report
Statistics for the 2024 Gas Filters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Gas Filters analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
